In a formal trading update issued Friday (22nd January) Barco admitted that it was struggling and announced “further exceptional charges to be booked in 4Q09”
Described as “a very significant drop in sales in the events and out-of-home media markets” the company announced that it had conducted a comprehensive analysis of its impairment risks and other financial exposures and said that it will “book charges of approximately euro 10 million in terms of warranty related project expenses and inventory write-offs in the events and out-of-home media businesses”.
Barco also said that it intends to book euro 6 million of additional restructuring charges to “further simplify and rationalize its operational footprint on a global basis”.
What once was such a mighty brand has lost its way a little over the past few years. Time perhaps for a big re-think on what they sell, what they offer and how they sell it.